Paragon welcomes refurbish incentive with new mortgage

Paragon Mortgages has welcomed Gordon Brown's tax incentive for investors wanting to buy derelict property and transform it into rented accommodation. Following the announcement of a tax break for investors and developers, Paragon is launching 'Buy and Refurbish to Let'. Paragon says the concept "will be popular with investment landlords wanting to take advantage of both the 100% capital allowances, for conversions of commercial space to residential use and the new 5% VAT rate on the costs of conversion and renovation". The package is flexible and allows investors to switch to a ...